Discontinued Operations

9 Months Ended

Sep. 30, 2015

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

11. Discontinued Operations

The Company has presented separately as discontinued operations in all periods the results of operations for all consolidated assets disposed of and all properties held for sale, if any, for properties sold in 2013 and prior years. The amounts included in discontinued operations for the nine months and quarters ended September 30, 2015 and 2014 represent trailing activity for properties sold in 2013 and prior years. None of the properties sold during the nine months and quarters ended September 30, 2015 and 2014 met the new criteria for reporting discontinued operations. See Note 2 for further discussion.

The components of discontinued operations are outlined below and include the results of operations for the respective periods that the Company owned such assets for properties sold in 2013 and prior years during the nine months and quarters ended September 30, 2015 and 2014 (amounts in thousands).

	Nine Months Ended September 30,						Quarter Ended September 30,
	2015			2014			2015		2014
REVENUES
Rental income	$	425		$	1,218		$	87	$	(57	)
Total revenues	425			1,218			87		(57		)
EXPENSES (1)
Property and maintenance	(67		)	(125		)	—		(84		)
Real estate taxes and insurance	55			146			2		152
General and administrative	75			59			4		8
Total expenses	63			80			6		76
Discontinued operating income (loss)	362			1,138			81		(133		)
Interest and other income	3			152			—		72
Income and other tax (expense) benefit	(15		)	(13		)	—		—
Discontinued operations	350			1,277			81		(61		)
Net gain (loss) on sales of discontinued operations	—			223			—		(1		)
Discontinued operations, net	$	350		$	1,500		$	81	$	(62	)

(1) Includes expenses paid in the current period for properties sold in prior periods related to the Company’s period of ownership.